Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Shares Gap Up – Still a Buy?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) shares gapped up before the market opened on Monday . The stock had previously closed at $279.29, but opened at $299.26. Direxion Daily Semiconductors Bull 3x Shares shares last traded at $295.67, with a volume of 11,642,929 shares traded.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The business’s 50-day moving average price is $180.28 and its 200 day moving average price is $99.16. The company has a market cap of $31.36 billion, a P/E ratio of 35.63 and a beta of 5.70.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bull 3x Shares

A number of hedge funds and other institutional investors have recently bought and sold shares of SOXL. Pin Oak Investment Advisors Inc. acquired a new position in Direxion Daily Semiconductors Bull 3x Shares during the fourth quarter worth approximately $25,000. Raymond James Financial Inc. acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the second quarter valued at approximately $25,000. Halbert Hargrove Global Advisors LLC boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 32.5% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 563 shares of the company’s stock worth $27,000 after acquiring an additional 138 shares during the period. Western Wealth Management LLC bought a new position in shares of Direxion Daily Semiconductors Bull 3x Shares during the 1st quarter worth approximately $33,000. Finally, 1248 Management LLC boosted its stake in shares of Direxion Daily Semiconductors Bull 3x Shares by 33.3% during the 4th quarter. 1248 Management LLC now owns 800 shares of the company’s stock worth $34,000 after acquiring an additional 200 shares during the period.

About Direxion Daily Semiconductors Bull 3x Shares

The Direxion Daily Semiconductor Bull 3X Shares (SOXL) is an exchange-traded fund that is based on the ICE Semiconductor index. The fund provides 3x daily exposure to a modified market-cap-weighted index of 30 US-listed semiconductor companies. SOXL was launched on Mar 11, 2010 and is managed by Direxion.